Batteries’ function in day by day life is changing into ever extra outstanding as they energy watches to telephones, computer systems, automobiles and full houses. The massive and rising complete addressable market — in addition to the various finish makes use of — means firms and researchers all over the world are vying to create units which are extra highly effective and extra environment friendly, all whereas retaining prices down.
One firm believes its give attention to a little-innovated a part of the battery units it aside. Enovix launched in 2007 with a mission to rework the essential structure of lithium-ion batteries. The corporate says its 3D stacking construction — versus the winding construction usually seen in batteries — permits it to reap the benefits of the energy-rich nature of silicon, thereby creating extra highly effective batteries.
The corporate took benefit of the rise in particular goal acquisition firms, or SPACs, and earlier this 12 months introduced plans to merge with Rodgers Silicon Valley Acquisition Corp. in a deal valued at $1.1 billion. With momentum behind the clear tech house, together with from Washington, Enovix CEO Harrold Rust stated the timing was proper to take the corporate public.
“I feel a few of these issues are simply beginning to day trip now the place now it is time to truly commercialize,” he stated.